Maharashtra Economic Survey Pegs State Growth At 7.5% In 2018-19

Maharashtra is expected to grow at 7.5 per cent for 2018-19, the Economic Survey released by the state government revealed. The Maharashtra state Finance Minister Sudhir Mungantiwar tabled the survey on Monday on the first day of monsoon session of the Assembly. However, the disappointment came in the agriculture and allied industries. For the year 2018-19, agriculture has registered a growth of 0.4 per cent, a decline of 2.7 per cent over last year.

"The decline is majorly due to deficient rainfall," said Sudhir Mungantiwar.

The state is currently under drought where out of 355 talukas, 192 received deficient rainfall. The industries sector has also shown a decline of 0.7 per cent. In 2018-19, it is estimated to grow at 6.9 per cent as against 7.6 per cent last year.

However, according to Economic Survey, the service sector has shown a growth of 1 per cent over last year. It is estimated at 9.2 per cent for year 2018-19. The other highlights show that the debt stock of the state stood at Rs. 4.14 lakh crore for 2018-19.

However, the leader of opposition in Legislative Council Dhananjay Munde raised doubts on the Economic survey.

"These figures need to be checked by economists as numbers could be inflated," he said.